<p>Polygon [POL] 网络在一月的第二周经历了链上活动的激增。</p>
<p>AMBCrypto 报道称，创纪录的 POL 销毁是由于 “需求和单日费用的历史最高水平”。</p>
<p>链上指标显示，当时的短期持有者处于盈利状态，考虑到 POL 的长期价格趋势，这代表了获利了结压力的威胁。</p>
<p>$0.18-$0.20 区域被强调为潜在的供应区。这一情况已经发生。在撰写时，Polygon 代币的交易价格为 $0.1245，较一月十日的 $0.1866 高点下跌了 33.28%。</p>
<h2><strong>链上活动减少显示 POL 需求下降</strong></h2>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Santiment-Activity-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Santiment-Activity-scaled.png"/></p>
<p>来源：Santiment</p>
<p>每日活跃地址指标在一月的第二周出现了急剧上升，恰逢 POL 价格上涨。此后，活跃地址数量稳步下降。</p>
<p>此外，网络增长在过去两周也有所下降。交易数量也回落至十二月的水平。</p>
<p>过去两周的发展意味着链上活动的激增并不可持续。这可能有助于解释 POL 需求的减少。</p>
<h2><strong>持有者行为显示混合信号</strong></h2>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Dormant-Circulation-Santiment-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Dormant-Circulation-Santiment-scaled.png"/></p>
<p>来源：Santiment</p>
<p>平均币龄和 90 天的沉睡流通在本月早些时候的 POL 激增期间发生了剧烈变化。这表明短期持有者在反弹期间获利了结。</p>
<p>然而，1 年沉睡流通几乎没有变化，显示长期持有者的信心保持稳定。自一月十四日以来，平均币龄开始上升，再次表明网络范围内的积累。</p>
<p>短期持有者的抛售也没有出现，因为 90 天的沉睡流通在初始激增后保持平静。</p>
<p>交易者和投资者可以在接下来的几周内关注沉睡流通，以监测下一波抛售。</p>
<p>总体而言，链上活动的放缓令人担忧。活动和对 POL 的需求再次上升可能会推动下一轮反弹。目前，交易者和投资者可以关注 $0.12 的支撑位。</p>
<hr/>
<h2>最后思考</h2>
<ul>
<li><em>一月初 Polygon 的价格和链上活动激增在随后的几周内并未持续。</em></li>
<li><em>在最近的反弹中，长期沉睡的代币苏醒，显示持有者在卖出反弹。</em></li>
</ul>

<p>Polygon (POL) 网络在 1 月初经历了链上活动的激增，导致了创纪录的 POL 销毁。然而，需求随后减弱，POL 的交易价格为 0.1245 美元，比 1 月的高点下跌了 33.28%。关键指标显示每日活跃地址和网络增长的下降，暗示活动不可持续。虽然短期持有者获利了结，但长期持有者保持稳定。交易者应关注 0.12 美元的支撑位和沉寂流通，以寻找潜在的卖出信号。总体而言，初期的价格激增和活动在接下来的几周内并未得到维持</p>

<p>The Polygon [POL] network saw a surge in onchain activity in the second week of January.</p>
<div class="lb-trans"><p>Polygon [POL] 网络在一月的第二周经历了链上活动的激增。</p>
</div><p>AMBCrypto reported that the record POL burn was due to “an all-time high for demand and single-day fees generated”.</p>
<div class="lb-trans"><p>AMBCrypto 报道称，创纪录的 POL 销毁是由于 “需求和单日费用的历史最高水平”。</p>
</div><p>The onchain metrics showed that short-term holders back then were in profit, and given the higher timeframe price trend of POL, this represented a threat from profit-taking pressure.</p>
<div class="lb-trans"><p>链上指标显示，当时的短期持有者处于盈利状态，考虑到 POL 的长期价格趋势，这代表了获利了结压力的威胁。</p>
</div><p>The $0.18-$0.20 area was highlighted as a potential supply zone. This has come to pass. At the time of writing, the Polygon token was trading at $0.1245, down 33.28% from the $0.1866 high it made on the 10th of January.</p>
<div class="lb-trans"><p>$0.18-$0.20 区域被强调为潜在的供应区。这一情况已经发生。在撰写时，Polygon 代币的交易价格为 $0.1245，较一月十日的 $0.1866 高点下跌了 33.28%。</p>
</div><h2><strong>Decreased onchain activity reveals reduced POL demand</strong></h2>
<div class="lb-trans"><h2><strong>链上活动减少显示 POL 需求下降</strong></h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Santiment-Activity-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Santiment-Activity-scaled.png"/></p>
<p>Source: Santiment</p>
<div class="lb-trans"><p>来源：Santiment</p>
</div><p>The daily Active Addresses metric saw a sharp spike in the second week of January, around the same time as POL’s price rally. Since then, the Active Address count has steadily declined.</p>
<div class="lb-trans"><p>每日活跃地址指标在一月的第二周出现了急剧上升，恰逢 POL 价格上涨。此后，活跃地址数量稳步下降。</p>
</div><p>Moreover, the Network Growth has also fallen over the past two weeks. The transaction count has also declined, coming back to December’s levels.</p>
<div class="lb-trans"><p>此外，网络增长在过去两周也有所下降。交易数量也回落至十二月的水平。</p>
</div><p>The developments of the past two weeks meant that the surge in onchain activity has not been sustainable. This could help explain the reduced demand for POL.</p>
<div class="lb-trans"><p>过去两周的发展意味着链上活动的激增并不可持续。这可能有助于解释 POL 需求的减少。</p>
</div><h2><strong>Holder behavior shows mixed signals</strong></h2>
<div class="lb-trans"><h2><strong>持有者行为显示混合信号</strong></h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Dormant-Circulation-Santiment-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Dormant-Circulation-Santiment-scaled.png"/></p>
<p>Source: Santiment</p>
<div class="lb-trans"><p>来源：Santiment</p>
</div><p>The Mean Coin Age and the 90-day Dormant Circulation moved dramatically during the POL rally earlier this month. This suggested short-term holders had taken profits during the bounce.</p>
<div class="lb-trans"><p>平均币龄和 90 天的沉睡流通在本月早些时候的 POL 激增期间发生了剧烈变化。这表明短期持有者在反弹期间获利了结。</p>
</div><p>However, the 1-year Dormant Circulation hardly moved, showing long-term holder conviction remained steady. Since the 14th of January, the Mean Coin Age has begun to trend upward, once more signaling network-wide accumulation.</p>
<div class="lb-trans"><p>然而，1 年沉睡流通几乎没有变化，显示长期持有者的信心保持稳定。自一月十四日以来，平均币龄开始上升，再次表明网络范围内的积累。</p>
</div><p>Capitulation from short-term holders was not seen either, as the 90-day Dormant Circulation remained quiet after the initial spike.</p>
<div class="lb-trans"><p>短期持有者的抛售也没有出现，因为 90 天的沉睡流通在初始激增后保持平静。</p>
</div><p>Traders and investors can keep an eye on the Dormant Circulation in the coming weeks to monitor the next wave of selling.</p>
<div class="lb-trans"><p>交易者和投资者可以在接下来的几周内关注沉睡流通，以监测下一波抛售。</p>
</div><p>Overall, the slowing onchain activity was a concern. Another uptick in activity and demand for POL can drive the next rally. For now, traders and investors can keep an eye on the $0.12 support level.</p>
<div class="lb-trans"><p>总体而言，链上活动的放缓令人担忧。活动和对 POL 的需求再次上升可能会推动下一轮反弹。目前，交易者和投资者可以关注 $0.12 的支撑位。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2>Final Thoughts</h2>
<div class="lb-trans"><h2>最后思考</h2>
</div><ul>
<li><em>The early January Polygon price and onchain activity surge were not sustained in subsequent weeks.</em></li>
<li><em>Long-dormant tokens woke up during the recent rally, a sign of holders selling the bounce.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>一月初 Polygon 的价格和链上活动激增在随后的几周内并未持续。</em></li>
<li><em>在最近的反弹中，长期沉睡的代币苏醒，显示持有者在卖出反弹。</em></li>
</ul>
</div>

Can Polygon recover as on-chain demand fades? POL’s setup explained!

- Polygon 网络在 1 月第二周的链上活动激增，导致 POL 销毁创纪录。  
- 活动指标显示短期持有者获利，造成利润锁定压力。  
- 链上活动减缓，需求降低，市场关注 $0.12 支撑位。

随着链上需求的减退，Polygon 能否恢复？POL 的配置解析！